WASHINGTON, DC-Los Angeles-based Resmark Cos. is expanding its footprint on the East Coast, as seen from the recent burst of activity in the DC market. The company is about to begin construction of a luxury condo project in Dupont Circle, following its groundbreaking on a project in Anne Arundel, MD. It has also opened an office here to scope out further activities.
The luxury condo project was announced this week. Called the N Street condominiums, it was recently approved by the District of Columbia Historic Preservation Review Board. Resmark and its partner, Madison Homes, will convert four and five story historic row homes at 1745 N St. into 31 luxury condominiums. In addition, a seven-story building will be built behind with 38 condominium residences at 1755 N St.
The row homes were constructed at the turn of the 19th Century. Once renovated they will feature residences ranging from a 650-square-foot, 1 bedroom, 1 bath home to a 1,720-square-foot residence with 2 bedrooms, a den and 2.5 baths. There will be a large, private courtyard between the two buildings plus 29 parking spaces.
Local D.C. firm PGN Architects is the design architect. Construction will begin in the summer of 2014 and be completed in late 2015.
In another project, Resmark Land and Housing, a division of The Resmark Cos., and Timberlake Homes are building Creekstone Village, a single-family townhome community consisting of 89 homes located at 8029 Jumpers Hole Rd. in Anne Arundel, MD.
The townhomes are all three stories with three bedrooms, two full baths and one half bath, ranging from approximately 1,720 to 2,636 square feet. The project will deliver in three years.
To manage its growing portfolio, Resmark has opened a headquarters office here that is spearheaded by Alexandra Johns. She is also tasked with identifying new investment opportunities in the area. Johns will serve as Senior Vice President, Investments in Resmark's Land and Housing division.
Prior to joining Resmark Johns was the Senior Relationship Manager for Wells Fargo's homebuilder sector in the Washington/Baltimore area. Prior to that she was Group Vice President of Chevy Chase Bank's homebuilding unit.
The new Resmark office is located at 5425 Wisconsin Ave., in Chevy Chase, MD.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
